IMF Boss 'Encouraged' By G20 Progress On Global Corporate Tax

MOSCOW (UrduPoint News / Sputnik - 11th July, 2021) Kristalina Georgieva, the head of the International Monetary Fund, said Saturday she was encouraged by the progress made by the G20 at this week's talks in Rome, in particular on a minimum corporate tax rate.

"I want to recognize the G20's support for the historic agreement on a minimum corporate tax rate.

This will help countries preserve their corporate tax base and mobilize revenue by ensuring that highly profitable companies pay their fair share everywhere," she said in a statement.

Finance ministers from the G20 group of industrialized nations endorsed a pact during their in-person meeting that will set a global minimum tax of at least 15% to prevent multinationals from shifting their profits to tax havens. A framework deal is expected by the G20 leaders' summit in October.